Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTJune 20 (Renewables Now) - The supervisory board of Port of Tallinn in Estonia has decided to invest up to EUR 53 million (USD 55.8m) in the construction of a new quay in Paldiski South Harbour to service wind farms.
The port authority announced this on Monday, saying that the project is necessary for both military purposes and to increase the maritime transport capacity of goods and vehicles. Moreover, the new quay is viewed as a chance for Port of Tallinn to establish itself as an important partner in the construction and maintenance of offshore wind farms in the Baltic Sea as it will gain the capacity to receive high-draft special purpose vessels involved in such installations.
The planned 310-metre quay will be set up with a rear area where preparations could take place for the manufacture and storage of generators and wind turbine blades before being loaded on a ship.
Completion of the quay is scheduled for the summer of 2025. It will receive EUR 20 million in funding from the European Commission.
Port of Tallinn said it is currently holding talks with a number of European wind farm builders to establish a construction and maintenance port for such projects. It noted that offshore wind parks in the area are planned to begin power generation in 2028.
(EUR 1.0 = USD 1.053)
Weekly renewables M&A round-up (Jun 27-Jul 1)
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